HomeMy WebLinkAboutReso 2007-227
RESOLUTION NO. 2007-227
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING AN AGREEMENT FOR
CONSULTING SERVICES BETWEEN COMMUNITY
HOUSINGWORKS, CONSULTANT, AND THE CITY OF
CHULA VISTA TO MANAGE A FIRST TIME HOMEBUYER
DOWNPAYMENT AND CLOSING COST ASSISTANCE
PROGRAM, AND AUTHORIZING THE CITY MANAGER TO
EXECUTE SAID AGREEMENT
WHEREAS, on April 16, 2002, Council adopted Resolution No. 2002-118, which
approved a First-time Homebuyer Downpayment and Closing Cost Assistance (DCCA) Program
to assist low-income homebuyers; and
WHEREAS, the approved program provided a maximum silent second loan of $40,000
available to qualified first-time homebuyers at zero percent (0%) interest rate; and
WHEREAS, due to rising prices in the housing market, the $40,000 silent second has not
been effective in serving households at the low-income level; and
WHEREAS, the City is desirous of contracting with Community HousingWorks to assist
in revising various elements of the program including the maximum loan amount to reflect
current market conditions as well as administer the program.
NOW, THEREFORE, BE IT RESOLVED based on the findings above, the City Council
of the City of Chula Vista does hereby authorize the City Manager to enter into an agreement
with Community HousingWorks for the City's First Time Homebuyer Program.
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Approved as to form by
Community Development Acting Director
~~~~
Ann Moore
City Attorney
Resolution No. 2007-227
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 14th day of August 2007 by the following vote:
AYES:
Councilmembers:
Castaneda, McCann, Ramirez, Rindone, and Cox
NAYS:
Councilmembers:
None
ABSENT:
Councilmembers:
None
Cheryl co~
ATTEST:
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rsusan Bigelow;-'MMC, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certit'y that the foregoing
Resolution No. 2007-227 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 14th day of August 2007.
Executed this 14th day of August 2007.
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t Susan BigeloW,' MMC, City Clerk
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